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REGISTERED NUMBER: 11494996 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Balloons & Party At Sparkles Limited

Balloons & Party At Sparkles Limited (Registered number: 11494996)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Balloons & Party At Sparkles Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs L Brisley
Mrs L Reeve





REGISTERED OFFICE: Unit 15 Runwell Hall Farmhouse
Hoe Lane
Rettendon
Essex
CM3 8DQ





REGISTERED NUMBER: 11494996 (England and Wales)





ACCOUNTANTS: Accounts by Simply Ltd
Unit 15
Runwell Hall Farmhouse
Hoe Lane
Rettendon
Essex
CM3 8DQ

Balloons & Party At Sparkles Limited (Registered number: 11494996)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 24,000
Tangible assets 5 3,155 4,656
23,155 28,656

CURRENT ASSETS
Stocks 35,000 29,750
Cash at bank 25 2,288
35,025 32,038
CREDITORS
Amounts falling due within one year 6 80,841 68,107
NET CURRENT LIABILITIES (45,816 ) (36,069 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,661

)

(7,413

)

CREDITORS
Amounts falling due after more than
one year

7

15,517

23,426
NET LIABILITIES (38,178 ) (30,839 )

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings (38,428 ) (31,089 )
(38,178 ) (30,839 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Balloons & Party At Sparkles Limited (Registered number: 11494996)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:




Mrs L Brisley - Director



Mrs L Reeve - Director


Balloons & Party At Sparkles Limited (Registered number: 11494996)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Balloons & Party At Sparkles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Balloons & Party At Sparkles Limited (Registered number: 11494996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 40,000
AMORTISATION
At 1 July 2022 16,000
Charge for year 4,000
At 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 20,000
At 30 June 2022 24,000

Balloons & Party At Sparkles Limited (Registered number: 11494996)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022
and 30 June 2023 2,474 4,769 4,583 641 12,467
DEPRECIATION
At 1 July 2022 1,485 3,152 2,650 524 7,811
Charge for year 495 405 484 117 1,501
At 30 June 2023 1,980 3,557 3,134 641 9,312
NET BOOK VALUE
At 30 June 2023 494 1,212 1,449 - 3,155
At 30 June 2022 989 1,617 1,933 117 4,656

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 7,911 7,911
Trade creditors 1,137 3,633
Taxation and social security 995 3,433
Other creditors 70,798 53,130
80,841 68,107

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 15,517 23,426

8. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.